Oil slumps to seven-month low on trade tensions, surprise U.S. stock build
Oil prices tumbled nearly 4% to a fresh seven-month low, extending recent heavy losses following an unexpected build in U.S. crude supplies and fears of lower crude demand due to deepening U.S.-China trade tensions.
Exclusive: Saudi Aramco valuation gap persists as IPO talks resume – sources
Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking sources said.
Rush into U.S. bonds sinks global stock markets; gold touches six-year high
Investors rushed into the safety of U.S. government bonds on Wednesday, smothering a broad stocks rally as fears of a global recession grew.
Great Wall warns BMW joint venture faces uncertainties
China’s Great Wall Motor on Wednesday said that its joint venture with BMW faced regulatory uncertainties as both companies pledged to proceed with plans for developing a low-cost electric car.
Wall Street slumps at open as investors seek safety
U.S. stocks opened lower on Wednesday, as investors sought safety in gold and government bonds on worries about the impact of a long-drawn U.S.-China trade war on global growth.
Capri cuts sales forecast as Michael Kors demand slows
Capri Holdings Ltd missed quarterly revenue estimates and cut its full-year sales forecast on Wednesday, as the high-end fashion house struggled with slowing demand for its Michael Kors brand at department stores and at its own retail outlets.
Michael Kors-owner Capri says no plans to raise prices despite higher tariff threat
Michael Kors-owner Capri Holdings Ltd has no plans to raise prices even if tariffs on Chinese imports go up to 25%, Chief Executive Officer John Idol said on Wednesday.
Oil slumps to new seven-month low on trade tensions
Oil prices fell further on Wednesday, extending recent heavy losses as deepening U.S.-China trade tensions weighed on the outlook for the global economy and energy demand.
FedEx to end ground-delivery partnership with Amazon
FedEx Corp confirmed on Wednesday it would terminate its contract with Amazon.com Inc for small-package ground deliveries, as the online retailer focuses on building out its own delivery network.
Ryanair to shut Faro base in Portugal in 2020: union
Ryanair has decided to close its base at Faro International Airport in southern Portugal from next year with the loss of at least 120 jobs, the SNPVAC cabin crew union, which had called a strike for Aug. 21-25, said on Wednesday.
